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24 August 2015

China's markets set the tone for the day (and perhaps the week) with an 8.5 percent blood-letting. Global stocks followed suit, which came after last week's 5 percent tumble.………Finally, let's put into broader context the frequency of corrections. U.S. markets average one 10 percent correction every 20 months. On average, we should expect these declines to take 71 trading days to play out (about three months).